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Mortgage rates in Nebraska

Interest rates on a 30-year $300,000 conventional mortgage start at around 3.125%

If you have a credit score between 700 and 719 and can put 5% down, you’ll generally pay about 3.250% for a 30-year conventional loan with a fixed interest rate on a $350,000 home. But how much interest you pay for your Nebraska home will depend on several factors, including your credit score, loan amount and lender.

Rates were last checked on October 6 and are from the Consumer Financial Protection Bureau (CFPB) website.

Your credit score affects the rate you’ll get

People with higher credit scores generally get lower interest rates because lenders assume they’re less likely to stop paying a mortgage. Here are the most common interest rates in Nebraska by mortgage amount, according to the Consumer Financial Protection Bureau (CFPB).

Credit score $200,000 mortgage $300,000 mortgage $400,000 mortgage $500,000 mortgage
620-639 3.875% 3.938% 3.813% 3.813%
640-659 3.750% 3.750% 3.625% 3.625%
660-679 3.500% 3.500% 3.500% 3.500%
680-699 3.250% 3.250% 3.250% 3.250%
700-719 3.250% 3.250% 3.125% 3.125%
720-739 3.125% 3.125% 3.125% 3.125%
740-759 3.125% 3.125% 3.000% 3.000%
760-779 3.125% 3.125% 3.000% 3.000%
780-799 3.125% 3.125% 3.000% 3.000%
800+ 3.125% 3.125% 3.000% 3.000%

*Based on a 10% down payment for a 30-year fixed-rate conventional mortgage

Interest rates vary by lender

Interest rates are affected by the economy and the federal funds rate, or the rate that banks charge each other for overnight loans. But they’re also affected by individual lenders, which can have differing overhead costs, profit margins and credit score requirements.

Comparing lenders can help you find the best deal. Select See rates to provide the company with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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Compare up to 4 providers

Interest rates also vary by loan type

The type of loan you get can also affect how much you pay for your Nebraska home. 15-year mortgages generally offer lower interest rates than 30-year mortgages, and you’ll see different rates for conventional loans than government loans.

Loan type $200,000 mortgage $300,000 mortgage $400,000 mortgage $500,000 mortgage
15-year conventional 2.500% 2.438% 2.375% 2.375%
30-year conventional 3.250% 3.250% 3.125% 3.125%
15-year FHA 2.563% 2.375% Not elegible Not elegible
30-year FHA 3.000% 3.000% Not elegible Not elegible
15-year VA 2.813% 2.625% 2.500% 2.500%
30-year VA 3.188% 3.188% 3.125% 3.125%

*Based on a 10% down payment, fixed interest rate and 710 credit score

Research ahead of time to get the best rates

Implement some of these strategies to gear up for a better rate on your next mortgage.

  1. Compare loan products. Lenders generally offer several kinds of loans with differing rates. Take a look at the interest rate and eligibility requirements for each loan program.
  2. Pay attention to your credit. Borrowers with good to excellent credit usually get the best rates from lenders. Before applying for a loan, pay off debt and increase your credit score to help you qualify for the best rate.
  3. Plan for closing costs. Closing costs in Nebraska range between 1.01% and 2.02% of the purchase price of the home. Consider these closing costs in conjunction with your interest rate to see the actual cost of your loan.

Home values in Nebraska are forecast to increase

Home prices in Nebraska are going up. The price of a typical home increased by 11.8% in the 12 months prior to June 2021, according to Zillow. But with the exception of Alexandria, Lincoln and Omaha, price increases are predicted to remain at or below 10% across most of the state for the next year.

The average price of a typical home in Nebraska currently sits at $206,538. But how much you’ll pay depends on the area you’re buying in. In the most popular areas, many homes are going above the asking price, pushing them into the $250 to $300K range and beyond.

6 fast facts about Nebraska’s housing market

If you’re looking to buy a home in Nebraska, here are six facts to consider:

  1. The average price of a typical home in Nebraska is $206,538 as of June 2021, which is nearly 30% less than the national average.
  2. According to Redfin, 59.8% of homes sold in Nebraska in 2021 went for above the asking price.
  3. The 2019 US Census states Nebraskans pay an average of $1,386 per month to own a home with a mortgage, which is $209 less than the national average.
  4. Closing costs in Nebraska are approximately 1.32% with taxes, according to ClosingCorp, with most homebuyers paying between $2,715 and $2,152 on a typical home.
  5. SmartAsset says Nebraskans pay a hefty 1.61% in property taxes, which is the 9th highest in the US. The national average is 1.07%.
  6. The Nebraska Investment Finance Authority (NIFA) offers several first-time homebuyer programs, including its HBA Program, which enables eligible homebuyers to purchase a home with as little as $1,000.

Bottom line

Mortgage rates in Nebraska vary by loan type, and factors like your credit score and lender affect what rate you get. But factors like your credit score and lender affect what rate you get. Compare mortgage lenders and programs to find one that best fits your homeownership goals.

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